St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-04-15
YESTERDAYS MARKET.
On the Chicago Board of Trade Wheat
Was Again Active and Somewhat
Stronger.
The Shorts Bought More Freely, and
Displayed Considerable Anxiety to
Cover May Sales.
The Rush on Their Part, However,
Caused Values to Appreciate
Rapidly.
of Wall Street.. General
Quotations.
Special to the Globe,


CHICAGO, April IA little rain in this and
in other parts of the winter wheat belt gave
the shorts little mental relief on the curb
this morning. The price was run down sc,
and the Borrowing short sellers who, from
selling wheat they did not own, have found
themselves in the grasp of the clique, believed
for moment that they were going to make
their escape. The relief, however, was only
mental, and was not even that very long. Be-
fore the opening even there was rumor
atloat that heavy margin calls were issuing
from ell the bull hOuseS-a preSage OF an
other advance. Immediately after the OPEN
ing Irwin, Green Il Co. and kerShaw Co.
were in the pit as buyers, and the May option,
which had gotten before the opening as low
as S55sc, was safely above sac again. There
were no clearauceS at New York. The Sibley
warehouse, which was made regular by the
directors last Tuesday, holds 10000 bu. of
grain. There is one other establishment, the
Hess house, which will probably be made reg
ular, and which will hold $4,000 bushels.
Neither of
THESS TWO ELEVATORS
is on the river, and whatever grain goes into
them must go in and out by rail, fact which
would make Il receipt from any OF them prac-
ticay worthless except to a "short seller.
The board of directors will take the attitude
(haye already taken it) that it is right for
them TO do anything which will make it posi-
bile for a short seller, who actually brings
wheat here, to make his delivery" This
stand is proper one without any reference
to whether the directory just now happens to
be bullish or bearish. If man is
short on wheat and brings it here
and is prepared to deliyer it no warehouse
rule ought to prevent him from making his
contract good. That is simple justice. There
will be a serious enough gram blockade here
in any event, even with all the ramshackle
old elevators long since out Of service made
regular and with the warehouse men au-
thorized even to build bins. There were no
guesSeS to-day on the visible next Monday.
1t did not seem to cut any figure at all, not
enough at any rate to encourage anybody 10
go to the trouble of making an estimate
Neither. after the market had started going,
was there any interest in what the signal
service bureau predicted. AS Broker Lind
blow explained it: 1.-The market now said
that rain in the West would not fill May con-
tracts any better than wind The whole iu-
terest centered in the actions of the clique.
All the gossip was about what its brokers
would do when it came May 1.
THE ROUTINE REPORT.
CHICAGO, April 1.-THE wheat market was
active and stronger to-day with shorts
buying more freely and displaying more anX-
iety to cover outstanding May sales. The
general buying on this part, however caused
values to rapidly appreciate. Traders are
completely at sea as to the probable cours Of
prices during the remaining half Of the
month and as to the possibility of a May
to have very little weight in affecting the
price of wheat for May delivery. Rain was
reported in various sections, though the gen.
crafty of the crop returns were unfayorable.
Receipts show falling off aggregating only
234, 900 at IL points and the export clearingS
were also very light May delivery opened
at S35s or 20 lower than last night, fell off to
S31ac, rose to S43sc on good buying, de-
clined to S41ac, rallied to S41ac and closed for
the day at S43sc. Corn was quiet and gener-
OIL noCray lint n1r Sow dow
days figures. Receipts show marked fall
ing Off Oats were quiet and easy. Mess
Pork was unchanged, except for April, few
sales being made at $1,000 Lard declined 71a
@10c per 100 lbs early, rallied somewhat, but
fell off again and closed at about inside fig
ures. Short ribs were shade easier.
THE QUOTATIONS.. .s
The leading futures ranged as follows:
Wheat-No. 2 April, opened at 1890, clos
ing at 795sc; May, S35sc, closing at
s4sac: June, S11lc. closing at 81 1a@s15sc: July,
Sic, closing at s1szc. Corn-No. 2, April,
at 3s7sc; June, 401sc, closing at 401s@4074c:
July, 415Sc, closing at 411a@4l5sc. Oats-No. 2,
April, 247ac, closing at 245sc; May, 291sc, clos
ing at 291sc; June, 1890, closing at 295sc.
MESS pork, per barrel-April, $50 80, closing
lat 5000; May, SCI, closing SCI; June, SCI,
closing at sal. Lard, per 100 pounds-April
$3.50, closing at S7.32a; May, $40, closing
at $7.371a; June, $3.50, closing at S7.45; July.
S7.573a, closing at $7521a. Short ribs, per
100 pounds-April, IS. 177a, closing at 1925;
May, SS.22h, closing at SIS 80, June. $S.3215,
closing at Ss.42S; July, ss.42k, closing at
$S.521l. Cash quotations were as follows: Flour
steady and unchanged. Wheat-No. 2 spring,
795s@s2%c; No. spring, 7l1ac: No. red,
S2ssc. Corn-No. 2, 343a@371ac. Oats-No. 2,
241a92sc. Rye--No. 2, 55@551ac. Barley-No.
2, SIC. Flax Seed-No. 1, $1.O4. limo
thy Seed-Prime, SLIT. Mess pork. per Dbl,
S2O.75. Lard per 100 lbs, $7.321a. Short ribs
sides, loose, $S.25; dry sailed shoulders,
boxed, S6.1006.25; short clear sides, boxed,
SS.70@8.75. Whisky, distilers' finished goods,
per gal, S1.1s. Recepts-Flour, 1900 bbls;
wheat, $4,000 bu; corn, 175,OOc blu: oats,
$1,000 bu; rye, LOCO bu; barley, 1000 bu.
Shipments-Flour, 10000 bbls; wheat, 5000
bu; corn, $4,000 bu: oats, $4,000 bu: rye,
blu; barley, 10000 bu. On the produce ex-
change to-day the butter market was easy;
creamery, 1S@24c per ID; dairy, l7@23c.
Eggs, 12@121ac.